DALLAS--(BUSINESS WIRE)--Tenet Healthcare Corporation (NYSE: THC) today announced that its Board
of Directors, after consulting with its independent financial and legal
advisors, has unanimously determined that the revised proposal from
Community Health Systems, Inc. (NYSE: CYH) to acquire all of the
outstanding shares of Tenet for $6.00 per share in cash grossly
undervalues the Company and is not in the best interests of Tenet or its
shareholders. Tenet noted that Community Health is proposing to acquire
the Company for the same price it proposed on November 12, 2010; a price
that the Tenet Board unanimously rejected. The Tenet Board continues to
believe that the Community Health proposal grossly undervalues Tenet and
fails to reflect Tenet’s prospects for continued growth and shareholder
value creation.

Trevor Fetter, President and CEO of Tenet, said: “Community Health’s
proposal continues to undervalue Tenet. Since Community Health’s
original $6.00 per share proposal was made, Tenet has demonstrated
improving business trends, including the best fourth quarter results in
seven years. In addition, industry fundamentals are improving, and
Tenet’s Outlook for 2011 and longer-term financial performance reflects
strong growth.”

Edward A. Kangas, non-Executive Chairman of Tenet’s Board of Directors,
and former Global Chairman and Chief Executive Officer of Deloitte,
added: “Tenet has a highly qualified Board that is entirely independent
with the sole exception of our CEO. The Board takes its responsibility
to shareholders very seriously. Our response to Community Health’s two
proposals has been thoroughly and thoughtfully considered.”

Tenet today sent the following letter to Wayne T. Smith, Chairman,
President and CEO of Community Health:

We are in receipt of Community Health’s proposal, dated April 18, 2011,
to acquire all of the outstanding shares of Tenet for $6.00 per share in
cash, which is the same price that Community Health previously proposed
on November 12, 2010. After consulting with its independent financial
and legal advisors, Tenet’s Board has unanimously determined that the
revised proposal from Community Health grossly undervalues the Company
and is not in the best interests of Tenet or its shareholders.

It has been more than five months since Community Health made its
original proposal of $6.00 per share. Since that time, it is widely
acknowledged by industry experts and shareholders that the Community
Health proposal substantially undervalues Tenet. In addition, during
this period, investors have recognized the improved prospects of the
hospital industry, as evidenced by increases in stock prices and
valuation multiples.

As we reviewed the revised $6.00 per share proposal, we could not ignore
the concerns regarding disclosure and regulatory compliance that we
raised in the lawsuit Tenet filed against Community Health on April 11.
Since filing that suit, a decision our Board did not take lightly, we
have grown even more concerned. Although Community Health characterized
our claims as “baseless” in its press release of April 11, Community
Health subsequently disclosed that the Office of the Inspector General
of the U.S. Department of Health and Human Services issued a subpoena in
March 2011, and that this subpoena was similar in scope to one
previously issued by the Attorney General of the State of Texas in
November 2010.

Our Board must consider questions around the sustainability of Community
Health’s business practices and the manner in which Community Health
deals with acquired hospitals, as they squarely impact its ability to
complete any transaction. As part of our Board’s consideration, we
received presentations from our advisors about the feasibility of
completing a transaction in this environment. Based on that analysis, we
have serious concerns about Community Health’s ability to consummate the
current proposal, let alone a proposal at a value our Board would
consider as a basis for entering into discussions.

Tenet’s Board places the utmost importance on its fiduciary duties to
its shareholders. We have never been opposed to a sale, but the Company
is not for sale at a price that fails to remotely reflect the value
inherent in its business.

Very truly yours,

/s/ Trevor Fetter

/s/ Edward A. Kangas

Trevor Fetter

Edward A. Kangas

President and CEO

Chairman of the Board

Cc:The Board of Directors of Community HealthRachel A.
Seifert, Executive Vice President, Secretary and General Counsel

As previously announced, Tenet plans to announce results for its first
quarter ended March 31, 2011 before the market opens on Tuesday, May 3,
2011 and the Company will host a conference call on May 3, 2011 at 10:00
a.m. Eastern Time for management to discuss the results via a live audio
webcast accessible through the Company’s Web site at www.tenethealth.com/investors.

Tenet Healthcare Corporation ("Tenet") will file with the Securities and
Exchange Commission ("SEC") a proxy statement, accompanied by a WHITE
proxy card, in connection with its 2011 annual meeting of shareholders.
Any definitive proxy statement will be mailed to shareholders of Tenet.
INVESTORS AND SHAREHOLDERS OF TENET ARE URGED TO READ THESE AND OTHER
DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY WHEN THEY
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
Investors and shareholders will be able to obtain free copies of these
documents (when available) and other documents filed with the SEC by
Tenet through the website maintained by the SEC at http://www.sec.gov.

CERTAIN INFORMATION REGARDING PARTICIPANTS

Tenet and certain of its respective directors and executive officers are
deemed to be participants under the rules of the SEC. Information
regarding these participants is contained in a filing under Rule 14a-12
filed by Tenet with the SEC on January 7, 2011. This filing and other
documents can be obtained free of charge from the source indicated
above. Additional information regarding the interests of these
participants in any proxy solicitation and a description of their direct
and indirect interests, by security holdings or otherwise, will also be
included in any proxy statement and other relevant materials to be filed
with the SEC if and when they become available.